Nogales, Arizona. – Former Santa Cruz County Treasurer Elizabeth Gutfahr will let a judge decide her future course of action after pleading guilty to three felonies for stealing nearly $40 million from the county over a 10-year period.
In front of a room full of Santa Cruz County elected officials and a district court judge, Gutfahr entered a guilty plea and said the funds were used to buy real estate, run various businesses, and buy at least 20 automobiles. I admitted that.
According to a statement from the U.S. Department of Justice, between 2012 and 2012, Gutfer “transferred funds from Santa Cruz County accounts directly to accounts in the name of companies he set up for the purpose of stealing county funds.” He allegedly embezzled and laundered the dollars. 2024.
“Gutfahr then transferred the money from these fraudulent business accounts to her personal account and used the money to purchase real estate, pay for and renovate the family ranch, pay for livestock expenses, and at least 20 vehicles,” the statement read in part, citing court documents.
The scheme involved approximately 187 wire transfers, according to federal officials. They allege that Mr. Gutfahr “used the tokens of subordinate Santa Cruz County employees to subvert the two-step approval process for wire transfers, allowing Mr. Gutfahr to both initiate and approve wire transfers.” He said he had completed them.
“Additionally, to conceal this scheme, Gutfahr falsified accounting records, cash reconciliation records, and county investment account reports to conceal the millions of dollars he had stolen from Santa Cruz County. Fahr did not report any of the stolen funds “as income for tax purposes,” the statement reads in part.
Gutfahr has pleaded guilty to embezzlement, money laundering and tax evasion and is scheduled to be sentenced on February 6th. Authorities said Gutfahr could be sentenced to 10 years in prison on the embezzlement charge, 20 years on the money laundering charge and five years in prison. For tax evasion. Her plea agreement reportedly did not specify a sentencing range.
Mr. Gutfahr reportedly paid approximately $38.7 million, or more than $10 million, in taxes and additional penalties.
Watch FOX 10 Phoenix:
The incident has sparked a debate about how Santa Cruz County will handle its finances going forward. Some residents think the county commission should have a better handle on where the money goes.
The general feeling is that county treasurers have too much control.
